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AIRS

AirSculpt Technologies, Inc.

AIRS

AirSculpt Technologies, Inc. • NASDAQ
$3.53 ▼ -1.12% (-0.04)
Market Cap $220.40 M
52w High $12.00
52w Low $1.53
Dividend Yield 0%
P/E -11.77
Volume 307.94K
Outstanding Shares 62.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $34.993M ▼ $32.679M ▲ $-9.512M ▼ -27.183% ▼ $-0.15 ▼ $-3.243M ▼
Q2-2025 $44.012M ▲ $27.725M ▲ $-591K ▲ -1.343% ▲ $-0.01 ▲ $4.14M ▲
Q1-2025 $39.371M ▲ $26.81M ▼ $-2.847M ▲ -7.231% ▲ $-0.049 ▲ $1.653M ▲
Q4-2024 $39.178M ▼ $28.262M ▼ $-5.034M ▲ -12.849% ▲ $-0.087 ▲ $-924K ▼
Q3-2024 $42.548M $30.298M $-6.04M -14.196% $-0.1 $-713K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.405M ▼ $185.92M ▼ $103.815M ▼ $82.105M ▼
Q2-2025 $8.189M ▲ $198.367M ▼ $107.21M ▼ $91.157M ▲
Q1-2025 $5.553M ▼ $203.26M ▼ $125.927M ▼ $77.333M ▼
Q4-2024 $8.235M ▲ $209.996M ▲ $130.706M ▲ $79.29M ▼
Q3-2024 $5.972M $208.245M $125.708M $82.537M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-9.512M ▼ $-225K ▼ $-180K ▲ $-2.379M ▼ $-2.784M ▼ $-405K ▼
Q2-2025 $-591K ▲ $4.984M ▲ $-265K ▲ $-2.083M ▼ $2.636M ▲ $4.719M ▲
Q1-2025 $-2.847M ▲ $868K ▼ $-1.901M ▲ $-1.649M ▼ $-2.682M ▼ $-1.033M ▼
Q4-2024 $-5.034M ▲ $2.713M ▲ $-3.528M ▲ $3.078M ▲ $2.263M ▲ $-815K ▲
Q3-2024 $-6.04M $1.83M $-4.899M $-825K $-3.894M $-3.069M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $40.00M ▲$40.00M ▲$30.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, showing that demand for AirSculpt’s services is expanding. At the same time, the business is operating very close to break-even, with profits flipping between very small gains and small losses. Gross profitability on each procedure looks reasonably healthy, but overhead and growth-related spending appear to absorb much of that benefit. Overall, this looks like a company that has moved beyond the early startup phase but has not yet converted its growth into consistently solid earnings.

Balance Sheet

Balance Sheet The balance sheet shows a business with a modest asset base, a meaningful amount of debt, and a relatively thin equity cushion. Assets have inched up over time, which is consistent with gradual clinic and infrastructure buildout. Cash levels are not generous, suggesting limited room for major missteps, but not an immediate red flag as long as operations stay stable. Debt is an important part of the capital structure, so the company’s ability to keep clinics busy and margins intact is critical for financial flexibility.

Cash Flow

Cash Flow Cash generation from day-to-day operations has been consistently positive, though not large, which is encouraging for a company still fine-tuning its model. After accounting for investment in clinics and equipment, free cash flow has generally been positive or close to neutral, indicating that growth has largely been funded from internal cash rather than heavy new borrowing. The flip side is that the cash cushion remains relatively light, leaving less room to absorb a sharp downturn or an aggressive expansion push without new capital.

Competitive Edge

Competitive Edge AirSculpt occupies a focused niche in aesthetic healthcare, built around a branded, minimally invasive body contouring procedure. Its competitive position leans on proprietary tools, procedure-specific know-how, and a premium brand marketed directly to consumers. Specialization helps differentiate it from general plastic surgery practices, but the broader aesthetics market remains highly competitive and sensitive to consumer confidence and discretionary spending. Sustaining its edge will depend on continued brand strength, patient outcomes, and the ability to stand out in a crowded space of body contouring options.

Innovation and R&D

Innovation and R&D Innovation at AirSculpt is centered on procedure design and patient experience rather than traditional lab-heavy R&D. The company has expanded its offering from core fat removal to related services like skin tightening, cellulite treatment, and fat-based facial rejuvenation, all built on the same core technology. Management is also positioning the company to serve patients who have lost weight using new weight-loss drugs, which could become a meaningful demand driver. The main risks are execution—turning new concepts into profitable, repeatable offerings—and maintaining clinical quality and safety as the portfolio grows and new leadership refines strategy.

Summary

AirSculpt is a growing, niche healthcare company with a distinctive, branded procedure and a clear focus on aesthetic body contouring. Financially, it has moved into a phase of steadier revenue but still hovers near break-even profitability, with moderate leverage and limited cash reserves that call for disciplined execution. Operational cash flows are positive, which helps support gradual investment without excessive new borrowing. Strategically, its moat rests on proprietary methods, brand strength, and a pipeline of related procedures, alongside an attempt to tap into the wave of patients using weight-loss drugs. The main questions looking ahead are whether leadership can convert these advantages into consistent, stronger profitability while managing debt, competition, and the inherent cyclicality of discretionary medical spending.

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November 7, 2025 · 6:00 AM UTC

AirSculpt Technologies Reports Third Quarter Fiscal 2025 Results

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October 31, 2025 · 6:45 AM UTC

AirSculpt Technologies Announces Third Quarter Fiscal 2025 Earnings Release Date and Conference Call

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